calming creation gift shop uses a perpetual inventory system journalize the following transactions for calming creation gift shop .

8/20/2021 Transactions Feb. 3 Purchased $3,700 of inventory on account under tems 1/10. n/EOM and FOB shipping point. 7 Returned $500 of defective merchandise purchased on February 3. 9 Paid freight bill of $200 on February 3 purchase. 10 Sold inventory on account for $4,000. Payment terms were 1/15, n/30. These goods cost the company $2,000. 12 Paid amount owed on credit purchase of February 3. less the return and the discount. 28 Received cash from February 10 from the customer in full payment of their account. Feb. 3. Purchased $3,700 of inventory on account under terms 1/10. n/EOM and FOB shipping point. Date Accounts Debit Credit Feb. 3 Feb. 7: Returned $500 of defective merchandise purchased on February 3. Date Accounts Feb. 7 Feb. 9: Paid freight bill of $200 on February 3 purchase